Magazine article American Banker

Robert Mylod: Outsider with a Local Connection

Magazine article American Banker

Robert Mylod: Outsider with a Local Connection

Article excerpt

When Michigan National started looking to replace its strong-willed former chairman, Stanford C. Stoddard, there was a simmering debate about whether the new top executive should come from the ranks of current management or from one of the big New York or Midwest bnaks.

On naming Robert J. Mylod to the job, Michigan National appeared to try to satisfy both camps. The appointment was a homecoming of sorts for the tall, dark, Brooklyn-born Mr. Mylod, who speaks with a self-assured East Coast accent.

Mr. Mylod, 45, who resigned late last year as president of the Federal National Mortgage Corp. in Washington, spent 10 years in Michigan at Southfield-based Advance Mortgage Corp. He got his start in banking at Citibank.

Mr. Mylod was viewed as the most attractive candidate because of his experience in Washington and at Citicorp and also because of his particular strength in the computer operations side of banking.

At Fannie Mae, he was responsible for engineering a $30 million overhaul of the organization's antiquated computer system in a project called "Laser System. …

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